You are here » Home » Companies » Company Overview » Dhunseri Investments Ltd

Dhunseri Investments Ltd.

BSE: 533336 Sector: Financials
NSE: DHUNINV ISIN Code: INE320L01011
BSE 00:00 | 22 Jan 246.00 -4.00
(-1.60%)
OPEN

252.00

HIGH

270.00

LOW

246.00

NSE 00:00 | 22 Jan 246.00 -5.40
(-2.15%)
OPEN

248.45

HIGH

258.00

LOW

245.50

OPEN 252.00
PREVIOUS CLOSE 250.00
VOLUME 2923
52-Week high 278.00
52-Week low 108.00
P/E 62.76
Mkt Cap.(Rs cr) 150
Buy Price 232.00
Buy Qty 2.00
Sell Price 260.00
Sell Qty 50.00
OPEN 252.00
CLOSE 250.00
VOLUME 2923
52-Week high 278.00
52-Week low 108.00
P/E 62.76
Mkt Cap.(Rs cr) 150
Buy Price 232.00
Buy Qty 2.00
Sell Price 260.00
Sell Qty 50.00

Dhunseri Investments Ltd. (DHUNINV) - Auditors Report

Company auditors report

To The Members of

DHUNSERI INVESTMENTS LIMITED

Opinion

We have audited the accompanying Standalone Financial Statements of DHUNSERIINVESTMENTS LIMITED ("the Company") which comprise the Balance Sheet as atMarch 31 2019 the Statement of Profit and Loss and the Cash Flow Statement for the yearthen ended and a summary of the significant accounting policies and other explanatoryinformation.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Standalone financial statements give the information requiredby the Companies Act 2013 in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31 March 2019 its profit and its cash flows for the yearended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder Section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor’s Responsibilities for the Audit ofthe Financial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements in India in terms of the relevant provisions of the Companies Act2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for ouropinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese Standalone Financial Statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes the maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting the frauds and other irregularities; selectionand application of appropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe Financial Statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the financial statements the Board of Directors are responsible forassessing the Company’s ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so. Those Board of Directors arealso responsible for overseeing the financial reporting process of the Company.

Auditors’ Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor’s report that includes our opinion. Reasonable assurance is ahigh level of assurance but is not a guarantee that an audit conducted in accordance withSAs will always detect a material misstatement when it exists. Misstatements can arisefrom fraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

As a part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also :

• Identify and assess the risks of material misstatement of the standalonefinancial statements whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.

• Obtain an understanding of internal financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under Section143(3)(i) of the Companies Act 2013 we are also responsible for expressing our opinion onwhether the Company has adequate internal financial controls system in place and theoperating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concernbasis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany’s ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor’s report to therelated disclosures in the standalone financial statements or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor’s report. However future events or conditionsmay cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial statements including the disclosures and whether the standalone financialstatements represent the underlying transactions and events in a manner that achieves fairpresentation.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofSection 143 of the Companies Act2013 we give in Annexure-A a statement on the mattersspecified in paragraphs 3 and 4 of the said Order.

2. As required by Section 143 (3) of the Act we report that:

i. We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit;

ii. In our opinion proper books of account as required by law have been kept by thecompany so far as appears from our examination of those books;

iii. The Balance Sheet Statement of Profit and Loss and Cash Flow statement dealt withby this report are in agreement with the books of account;

iv. In our opinion the Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with the Accounting Standards specified under Section 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014;

v. On the basis of the written representations received from the directors of theCompany as on 31st March 2019 taken on record by the Board of Directors of the Companynone of the Directors are disqualified as on 31st March 2019 from being appointed as aDirector of that company in terms of sub-section 2 of Section 164 of the Act.

vi. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in "Annexure B"; and

vii. With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

a. The Company does not have any pending litigations as on balance sheet date whichwould impact its financial position.

b. The Company does not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses and

c. there has been no delay in transferring amounts required to be transferred to theInvestor Company’s Education and Protection Fund by the Investor Company andassociate companies incorporated in India;

Bipin Kumar Agarwala FCA PARTNER
(Membership No. 051635)
For and on behalf of
U. S. AGARWAL & ASSOCIATES
Place: Kolkata Chartered Accountants
Date: The 28th day of May 2019 Firm Registration No.314213E

Annexure-A to Independent Auditors’ Report

Referred to in Paragraph 1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that :

i) (a) The Company is maintaining proper records showing full particulars includingquantitative details & situation of Property Plant and Equipments.

(b) The Property Plant and Equipments of the Company have been physically verified bythe management during the year and discrepancy noticed on such verification has been dulyprovided in the books of accounts.

(c) The title deeds of immovable properties are held in the name of the company.

ii) According to the records of the Company examined by us and the information andexplanations given to us the Company does not hold any inventories. Thus paragraph 3(ii)of the Order is not applicable to the Company.

iii) The Company has not granted any loans secured or unsecured to Companies firmsor other parties covered in the register maintained under Section 189 of the Act.Consequently clauses (iii) (a b & c) of paragraph 3 of the Order are not applicable.

iv) The Company has not entered into loans investments guarantees and securitytransactions falling within provisions of section 185 and 186 of the Companies Act 2013.

v) The Company has not accepted any deposits from the public within the meaning ofSections 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder.

vi) The Central Government has not prescribed the maintenance of cost records underSection 148(1) of the Companies Act 2013 for any of the services rendered by theCompany. Accordingly paragraph 3(vi) of the Order is not applicable to it.

vii) (a) In our opinion and according to the information and explanations given to usthe Company is depositing undisputed statutory dues including provident fund employeestate Insurance income tax sales tax service tax duty of customs duty of excisevalue added tax goods and services tax cess and any other statutory dues withappropriate authority.

(b) According to the information and explanations given to us there are no dues ofprovident fund employees state insurance income tax sales tax service tax goods andservices tax cess and any other statutory dues outstanding on account of any dispute.

viii) According to the records of the Company examined by us and the information andexplanations given to us there are no dues payable to any financial institutions or banksor debenture holders as at the balance sheet date.

ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable.

x) According to the records of the Company examined by us and information andexplanation given to us any fraud by the Company or any fraud on the Company by itsofficers or employees has not been noticed or reported during the year.

xi) Managerial remuneration has been paid in accordance with Section 197 read withSchedule V to Companies Act 2013.

xii) In our opinion and according to the information and explanations given to us theCompany is not a Nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

xiii) All transactions with the related parties are in compliance with Sections 177 and188 of Companies Act 2013 where applicable and the details have been disclosed in theFinancial Statements etc. as required by the applicable accounting standards.

xiv) According to the information and explanations given to us the Company has notmade preferential allotment of shares during the year under review; thereforerequirements of section 42 of the Companies Act 2013 are not applicable.

xv) According to the information and explanations given to us the Company has notentered into any non-cash transactions with directors or persons connected with him.Accordingly paragraph 3(xv) of the Order is not applicable.

xvi) The Company has obtained registration as required under Section 45-IA of theReserve Bank of India Act 1934.

Bipin Kumar Agarwala FCA PARTNER
(Membership No. 051635)
For and on behalf of
U. S. AGARWAL & ASSOCIATES
Place: Kolkata Chartered Accountants
Date: The 28th day of May 2019 Firm Registration No.314213E

Annexure-B to the Independent Auditor’s Report

of Even Date on the Standalone Financial Statements of Dhunseri Investments Limited

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of DHUNSERIINVESTMENTS LIMITED ("the Company") as of March 31 2019 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on "the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India". These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company’s policies the safeguarding of its assetsthe prevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under Section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor’s judgement including the assessment of the risks ofmaterial misstatement of the Financial Statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company’s internal financial controlssystem over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of Financial Statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2019 based on"the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

Bipin Kumar Agarwala FCA PARTNER
(Membership No. 051635)
For and on behalf of
U. S. AGARWAL & ASSOCIATES
Place: Kolkata Chartered Accountants
Date: The 28th day of May 2019 Firm Registration No.314213E

.